Business deals during recession

A few days back there were fears of a slowdown in the BPO business. Recession, Barack Obama effect and quite a few other things were the reason behind this. There was an all-round lull and rumor-mongers were out there on the streets saying that the BPO-boom is over.
And there happens these two deals and these rumor-mongers are back into their shells. All these talks about recession and the BPO slowdown are over now. The largest BPO in India, Genpact bagged a five year contract from, The Hyatt Corporation chain, covering its North American hotels for its accounting transactions.
Harmit Singh, CFO, Global Hyatt Corporation said: ‘‘We have a contract with Genpact for handling the accounting transaction services for some of our North American portfolio, which would be expanded moving forward.’’ From an initial nine hotels, Genpact’s Hyderabad unit will cover another six hotels next year and then 10 hotels by March 2010. The Hyatt group has 118 properties in North America

Also at the same time, another major BPO in India, Infosys, was awarded a five-year, multi-million dollar contract for information technology work by the British drug maker, AstraZeneca. Under the agreement, Infosys will deliver application maintenance services to AstraZeneca’s global operations in areas including manufacturing, supply chain, finance, and human resources

There need not be a conclusion to this post because any reader would now be confident of the fact that "BPOs are here to stay and make it big".